EURUSD is seemingly attracting demand around the 1.1300 double bottom area. The Median Line of this inside set is also tested here. If this area fails, sellers will target 1.1000-1.0800 for further downside. However there are good odds that this will get picked up here for at least a minor correction towards the 1.1475 area. Buying with stops below 1.1300 and...
While the price is above the support 1.1000, beginning of uptrend is expected.
We make sure when the resistance at 1.1450 breaks.
If the support at 1.1000 is broken, the short-term forecast -beginning of uptrend- will be invalid.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI downtrend #1 is...
The previous idea "Strengthening the immune system" received a lot of traction and it is time for a quick update here ahead of the vote in HoC today.
Volatility remains very high in the cross, and after the sharp drop overnight the ladder has been cleared for a move back through
resistance at 0.8670.
Watching this very closely and we have the potential for a...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=117.75.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=117.5.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
Descending triangle pattern formation on EURUSD.
It is a classic reversal pattern and price consolidates around structure support setting higher lows.
The technique of trading this pattern is similar to any classic reversal pattern.
We wait until break and close below the support.
Then we can short.
T1 - 1.112
T2 - 1.106